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To all my mathematical truckers....Certificate of Deposit talk.

Discussion in 'Trucker Taxes and Truck Financing' started by nikmirbre, Dec 18, 2021.

Page 2 of 5
  1. Dec 18, 2021 #11
    nikmirbre

    nikmirbre Road Train Member

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    Yeah and for a savings account the only thing its really good for is, it stops you from impulse spending, having to go to the bank to present the book during business hours.... and a little higher rate
     
    nikmirbre, Dec 18, 2021
    nikmirbre, Dec 18, 2021
    #11
    feldsforever Thanks this.
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  3. Dec 18, 2021 #12
    Flat Earth Trucker

    Flat Earth Trucker Road Train Member

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    My brother received $20 on a year CD from $5,000. No joke.
     
    Flat Earth Trucker, Dec 18, 2021
    Flat Earth Trucker, Dec 18, 2021
    #12
    Dave_in_AZ and nikmirbre Thank this.
  4. Dec 18, 2021 #13
    nikmirbre

    nikmirbre Road Train Member

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    The best ive seen was on $5000 a year was $11 a month. And thats a 5 year CD
     
    nikmirbre, Dec 18, 2021
    nikmirbre, Dec 18, 2021
    #13
    Dave_in_AZ and Flat Earth Trucker Thank this.
  5. Dec 18, 2021 #14
    Snow Hater

    Snow Hater Medium Load Member

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    Do what you want. If you really want an answer then take the time to educate yourself. Asking a bunch of truckers may not be the best approach.
     
    Snow Hater, Dec 18, 2021
    Snow Hater, Dec 18, 2021
    #14
    Studebaker Hawk, p608, MOBee and 1 other person Thank this.
  7. Dec 18, 2021 #15
    Flat Earth Trucker

    Flat Earth Trucker Road Train Member

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    That is an abysmal return. Try talking to a financial advisor.
     
    Flat Earth Trucker, Dec 18, 2021
    Flat Earth Trucker, Dec 18, 2021
    #15
    MOBee and nikmirbre Thank this.
  8. Dec 18, 2021 #16
    nikmirbre

    nikmirbre Road Train Member

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    High Point NC
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    This goes for all questions asked....someones occupation doesn't disqualify them from answering money questions. Im assuming those responding know what they are talking about. I wasn't asking for any financial advice as to what to do with my money. I was asking about the APY for a certain amount of money for a certain length of time thats all. Just trying to hone in on what others know.....
     
    nikmirbre, Dec 18, 2021
    nikmirbre, Dec 18, 2021
    #16
    Oxbow and Pamela1990 Thank this.
  9. Dec 18, 2021 #17
    nikmirbre

    nikmirbre Road Train Member

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    Jul 27, 2011
    High Point NC
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    Im sorry when I said "seen" I meant what was being offered, not what any of my results were LOL
     
    nikmirbre, Dec 18, 2021
    nikmirbre, Dec 18, 2021
    #17
    Flat Earth Trucker Thanks this.
  10. Dec 18, 2021 #18
    Flat Earth Trucker

    Flat Earth Trucker Road Train Member

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    Think of how much money you would need to invest in order earn $5000 per month.
     
    Flat Earth Trucker, Dec 18, 2021
    Flat Earth Trucker, Dec 18, 2021
    #18
    nikmirbre Thanks this.
  11. Dec 18, 2021 #19
    nikmirbre

    nikmirbre Road Train Member

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    At the rate of 0.55% on a 5 year CD, if you did 5 million per year you'd still only get about $2300 per month....
     
    nikmirbre, Dec 18, 2021
    nikmirbre, Dec 18, 2021
    #19
    Flat Earth Trucker Thanks this.
  12. Dec 18, 2021 #20
    LoneRanger

    LoneRanger Road Train Member

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    Buy land and just keep it. Don’t have to build. They go up in value no matter what.
     
    LoneRanger, Dec 18, 2021
    LoneRanger, Dec 18, 2021
    #20
    Rubber duck kw, Dave_in_AZ and nikmirbre Thank this.
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